The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1887-09-17
MuTlLATED MONEY.
Rules Regulating tho Redemption Of
Vorn.Out Paper Money.

Worn-Out Paper Money.
"Arc many mutilated notes presented
for redemption" asked reporter of
clerk in the United States Sub Treasury
on Wall street. "Yes, more than the
public has any idea Of" he replied; and
the oblising clerk at once volunteered
to initiate the reporter into the work.
ings OF the department having charge
of that particular branch. The chief
rules regulating the work are as fol-
lows.
Paragraph N reads: Mutilated United States
notes, gold certificates and silver certificates
are redcemable by the Treasurer only, at dis.
count OF ten per cent. OF the face value for each
tenth OF the original proportion missing in any
part or place provided not less than one half OF
the whole note Is presented
Paragraph Is. Fragments less than half and
notes subject to discount under paragraph 10
are redeemable at the face value OF the whole
note when accompanied by an anidavit of the
owner or other persons having knowledge OF the
facts that the missing portions have been
totally destroyed.
OfNational bank notes it says:
Paragraph 81. Notes equaing or exceeding
three-ifths OF their original proportions, and
bearing the name of the bank and the signature
OF one Of its officers, redeemable at their full
| face value.
Paragraph o. Notes Of which les than three.
| ffths remain, or from which both signatures
IRE lacking are not redeemed by the Treasurer.
| but should be presented for redemption to the
| bank OF issue.
More 81, 50 and 5 notes are redeemed
than of any other denominations. Notes
were shown to the reporter that were
scollowed, torn in half, with corners
missing, holes the size of silver dol
lar. seemingly taken out of the center
of the note, and some so thin that more
handling would reduce them to shreds.
The silver certificates of 81 and S2 were
we'll represented, even though in cir
culation but year. They were princi-
pally torn; not worn, rs in the other
cases. A piece of glass the exact size
of a note, divided into squares and OBJ
longs, is used to measure the size of the
mutilations. Onc-half of the glass is
divided into five parts, formed by lines
cut horizontal with the cnds-each OBJ
long being one-tenth of the glass. The
other half is cut into twenty squares,
each representing one-forteth of the
glass. This glass, when laid upon a
note, at once reveals the extent Of the
mutilation.
The money is received and examined
by special clerk, who. after returning
the proper amount to the person pre-
senting it, turns the note or notes to a
clerk whose duty it is to pack and pre-
pare the same for shipment to Wash
ington. A large stack of bills was be-
fore the last clerk and he was busy as
sorting them according to their dcnom-
nations. They are then put into pack
ages of one hundred notes. Then ten
packages are tied together, forming Il
bundle containing one thousand bills.
Silver certificates are perforated before
being packed.
The bundles are expressed to Wash.
ington. where the notes are reduced to
! pulp, which, in turn, is nodded into
} various shapes and sold to curiosity
hunters.
More than $SO.OOO,0OO in mutilated
notes are redeemed each year at the
Sub-Treasury.-M Y. Commercial Id
rertiser.